China Unveils its New Set of Leadership as It Prepares Reemergence for World Dominance

After a week of deliberations, China has announced its next set of leader for the next five year with President Xi still at the head of the world’s largest political party, the Communist Party of China. Right now, the President Xi is more powerful than ever and he is expected to use his power to steer China into a position of global leadership based on his own terms.

The newly elected committee officially met for the first time earlier Wednesday with President Xi and Premiere Li Keqiang retaining their positions while five new members were added to the seven-man Politburo Standing Committee. All in their 60s, it is unlikely that they would stay more than their current terms because the unofficial retirement age for senior officials is 68.

What’s in it for investors

With Xi retaining the number one spot, some investors are hoping that his position will help him push through economic and financial reforms that will save the Chinese economy in event of another crash. Interestingly, some investors don’t appear to be bothered about the absence of a clear successor and would even love to see Xi extend into a third term because his policies wouldn’t trigger change or slow things down.

In his speech at the opening of the party convention last week Wednesday, Xi expressed support for market reform and private firms although he still believes there should be strong government presence in the economy. He also hinted that he would be providing leadership for the world based on China’s terms.

Those that will be appointed into key economic and financial positions over the next coming months are more important to investors than the actual politicking that got them into office. Doing business in China requires working, collaborating and cooperating with the party.

The seven new Politburo Standing Committee members in the Communist Party are as follow:

Xi Jinping, 62, now the most powerful Chinese leader in decades, he was elected president in 2013, and has changed the history of the country ever since then.

Li Keqiang, 62, has been premiere since 2013, and he is known as the bearer of economic news about the country.

Li Zhanshu, 67, head of the Chinese Communist Party.

Wang Yang, 62, the spokesperson for China at the annual U.S. – China strategic and economic dialogue.

Wang Hunung, 62, director of the policy research and the secretary of the secretariat at the Communist Party Congress Central Committee form 2007 to 2012.

Zhao Leji, 60, CPC personnel chief.

Han Zheng, 63, he is currently the party chief of Shanghai.

China has big plans for the world

President Xi is presenting China as a world leader and himself as the champion for global goals in much the same way that U.S. President Trump is very much concerned about promoting his “America First” foreign policy. On Tuesday, the Party approved an amendment, which will include Xi’s name and doctrine into its constitution. Anybody who dares to challenge Xi will now literarily be challenging the party.

Xi is now the third leader of the party to have his name inscribed in the document after Mao Zedong, founder of Communist China and Deng Xiaoping. According to Merriden Varrall, director of East Asia Program for Lowy Institute for International Policy in Australia, “it indicates that he has that kind of power that Mao had as the creator of the new China, which Deng Xiaoping had as the reformer, and he’s the rejuvenator. So he’s the symbolic entity who is going to take China to the next level.”

Under Xi’s watch in the last five years, China has risen to become the world’s second-largest economy, the country’s global influence has greatly expanded and plans are already in place to open doors of vast opportunities and investment to boost the economy.

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